Peter David Schiff is a stockbroker, financial analyst, and radio personality from the United States. He is the CEO and chief global strategist of Euro Pacific Capital Inc., a Westport, Connecticut-based broker-dealer.
He also works for Euro Pacific Asset Management, an independent investment advisor, Schiff Gold (previously Euro Pacific Precious Metals), a precious metals dealer, and Euro Pacific Bank, a full-service bank.
Serious regulatory issues
Schiff stated that he warned Scaramucci that Skybridge Capital will enter the bitcoin market at its peak.
Many significant players were able to cash in on this activity by selling their investments to Skybridge, according to the financier.
According to a report, around one-fifth of the fund is made up of difficult-to-sell private enterprises.
It is also alleged that approximately a quarter of Legion Strategies’ net assets were invested in other Skybridge-managed funds that hold cryptocurrencies and other digital assets.
As a result, the fund also engaged in a private investment round in FTX, one of the major cryptocurrency exchanges.
While Peter Schiff provides advice and warnings, his bank, Europac, which is based in Puerto Rico, is still dealing with serious regulatory issues, and customer accounts are still frozen.
A crypto believer previously stated that he would sell the failing bank for Bitcoin if doing so would assist pay off clients.
Skybridge manages a larger fund-of-funds called the Multi-Adviser Hedge Fund Portfolios, which as of March 31 handled nearly $2 billion. Through March 31, this fund experienced a 5.5 percent annual decline.
The money is paid using a tender offer made by Skybridge. When investors can withdraw money again at the end of September, the firm informed clients that it will purchase 10% of the fund’s shares.
Source: https://www.thecoinrepublic.com/2022/07/19/already-warned-about-entering-the-bitcoin-market-at-its-peak-peter-schiff/